Gibraltar Mortgage Services Rates, Fees & Info
DOVER, DELEI: 549300E5EFGSFSL7WF75
Tax ID: 47-2137405
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Mortgage Data
Review & Overview
Gibraltar Mortgage Services is a smaller mortgage company specializing in Home Purchase loans. Gibraltar Mortgage Services has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top two markets are Houston and San Antonio .Gibraltar Mortgage Services has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Gibraltar Mortgage Services is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
33Origination Dollar Volume (All Markets)
$10,315,000Awards
GIBRALTAR MORTGAGE SERVICES - 2023
GIBRALTAR MORTGAGE SERVICES is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 31 | $9,505,000 | $306,613 | $8,287 | 5.91% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $12,227 | 6.06% |
Similar Lenders
We use machine learning to identify the top lenders compared against GIBRALTAR MORTGAGE SERVICES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 22 | $7,180,000 | $326,364 | $8,403 | 5.84% |
| VA | 7 | $2,125,000 | $303,571 | $8,663 | 5.86% |
| FHA | 4 | $1,010,000 | $252,500 | $9,016 | 6.47% |
For 2023, Gibraltar Mortgage Services's most frequently originated type of loan was Conventional, with 22 originations. Their 2nd most popular type was VA, with 7 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 30 | $9,320,000 | $310,667 | $8,497 | 5.90% |
| Refi | 3 | $995,000 | $331,667 | $8,951 | 6.08% |
For 2023, Gibraltar Mortgage Services's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 31 | $10,125,000 | $326,613 | $8,824 | 5.92% |
| 20 Year | 2 | $190,000 | $95,000 | $4,438 | 5.94% |
For 2023, Gibraltar Mortgage Services's most frequently cited loan duration was 30 Year, with 31 originations. The 2nd most popular length was 20 Year, with 2 originations.
Origination Fees/Closing Costs
Gibraltar Mortgage Services's average total fees were $8,824, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 16 | $5,430,000 | $339,375 |
| 6-7% | 16 | $4,880,000 | $305,000 |
| <2.5% | 1 | $5,000 | $5,000 |
During 2023, Gibraltar Mortgage Services's average interest rate for loans was 5.92%, while their most frequently originated rate bucket for loans was 5-6%, with 16 originations.
Loan Sizing
2023 saw Gibraltar Mortgage Services place emphasis on $200k-400k loans with 15 originations, totaling $4,305,000 in origination value.
Applicant Income
Gibraltar Mortgage Services lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $150k-250k, with 8 originations.
Applicant Debt to Income Ratio
Gibraltar Mortgage Services lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 30-36%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.33%
Gibraltar Mortgage Services has an average approval rate.
Pick Rate
Approvals leading to origination30.30%
Gibraltar Mortgage Services has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 33 | $10,315,000 | $312,576 |